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Art within the Metaverse

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The Metaverse is a place that is not yet tangible for many of us. It is a digital parallel world in which many things do not work as they do in our reality. Among other use cases, art has also found its place in the metaverse with virtual exhibitions and NFTs. Find out what this looks like in our article!

The metaverse has many faces. Boosted by decentralized cryptocurrencies, the technology behind Web3 and the blockchain has evolved greatly. As a result, virtual companies and online shopping are flourishing, and live interactions using VR and AR technologies have become even more tangible. But how has the art scene found its place in the digital parallel world we call Metaverse?

Virtual Spaces: Digital Art Exhibitions and VR

The arts and culture scene has suffered greatly due to the lack of visitors during the Corona pandemic. Distance and missing ticket sales have caused this sector to have a tough time generating revenue and keeping the public’s attention. Thus, many organizations took the chance to digitize their activities, and VR and AR technologies have revived the art experience. On the one hand, there were museums and galleries that could continue to hold tours and exhibitions with the help of VR. On the other hand, art installations could also be brought to life digitally through VR. All these formed cultural parallel worlds – also called metaverses – in which many art forms could exist on the threshold of reality and digitality. We found some projects that have already successfully used this technology:

Museums & Galleries:

Artists

Artists and NFTs

NFTs have increased the added value for creating artists enormously. Read more about this in our blog post NFTs: A Blessing or a Disaster for Digital Art?. But it’s not just digital artists who benefit from selling NFTs. Artists from different generations across all branches of the arts are now selling NFTs. On Cryptoart you can find a daily updated list – these top 5 artists are based on the total value of their NFT art according to current Crypto price values:

  1. pak ($303,476,017.90)
  2. beeple ($172,479,658.44)
  3. snowfro ($69,349,649.39)
  4. xcopy ($56,628,489.07)
  5. tylerxhobbs ($55,124,661.85)

(as of 09/28/2022)

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